April 2013

ENRC promotes Midgley, Mirakhmedov after Cochrane departure

ENRC has promoted Mark Midgley and Abdumalik Mirakhmedov following the departure of chief commercial officer Jim Cochrane three weeks ago.

Xstrata-Merafe will sell Horizon chrome mine in South Africa

Xstrata-Merafe is in talks with interested parties to sell its Horizon mine in Limpopo, South Africa.

South African ferro-chrome still tight amid Eskom deals – IFM’s Jordaan

South African ferro-chrome supply remains tight due to widespread power buyback deals, International Ferro Metals ceo Chris Jordaan told Metal Bulletin as the company announced a 30% fall in output.

Zim Alloys Chrome doubles monthly production to 600 tonnes

Zimbabwe-based producer Zim Alloys Chrome has doubled its output of ferro-chrome and ferro-silicon to 600 tpm, after a $1-million capital injection by its shareholders.

China’s high-carbon ferro-chrome and chrome ore imports up in March

China’s imports of ferro-chrome and chrome ore went up in March but are likely to fall this month with prices in the domestic market moving down.

MB NON-FERROUS PRICE CHANGES

The following MB non-ferrous free market prices changed on Friday:

CHARGE CHROME INDEX: Prices hold steady on lack of imports

Charge chrome import prices remained static in China for the fourth week running, as South African producers and Chinese buyers continued to avoid each other, amid a protracted stand-off over price.

SFO demands ENRC investigation documents from law firm

The Serious Fraud Office (SFO) has asked Dechert, the law firm investigating corporate governance issues at ENRC, to hand over documents relating to the investigation, according to market sources and a report in the Financial Times.

Jindal Steel seeks investors for ferro-chrome spin off

Jindal Steel has appointed accountants Ernst & Young to seek strategic investors for its ferro-chrome operation, which it plans to spin off into a separate company.

CHARGE CHROME INDEX: Prices remain flat as South Africans hold out

Charge chrome imports prices held in China for the third consecutive week as South African buyers continued to prioritise regions where prices are higher.